Chapter 16 - TOOLS & TECHNIQUES OF EMPLOYEE BENEFIT AND...

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9th Edition College Course Materials Deanna L. Sharpe, Ph.D., CFP®, CRPC®, CRPS® Associate Professor CFP® Program Director Personal Financial Planning Department University of Missouri-Columbia Please Note : Correct answers for each question are indicated in bold type. After each question, the number of the page containing information relevant to answering the question is given. When a calculation is necessary or the reasoning behind a given answer may be unclear, a brief rationale for the correct answer is also given. Part A: Retirement Planning Defined Contribution Plans Chapter 16: Profit Sharing Plan True/False 16.1 Employees who take out a loan from their profit sharing plan must pay 10% of the loan amount as a penalty as well as reasonable interest on the funds borrowed. 16.2 In a profit-sharing plan, forfeitures may be reallocated or used to reduce future employer contributions 16.3 If an employer has a profit, at least some contribution must be made that year to the profit sharing plan. Answers:
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This note was uploaded on 01/30/2012 for the course INS INS 3503 taught by Professor Tammimetz during the Fall '11 term at Mississippi State.

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Chapter 16 - TOOLS & TECHNIQUES OF EMPLOYEE BENEFIT AND...

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